YES Bank to sell all its NPAs to JC Flowers ARC by December: Report

YES Bank's gross NPAs stood at 13.4 per cent at the end of June. The gross figures stood at Rs 27,747 crore. In June 2021, the NPAs stood at 15.6 per cent

YES Bank will wipe out Rs 48,000 crore worth of non-performing assets (NPAs) by December. The private lender had earlier agreed to sell its bad loans to an asset reconstruction company (ARC) floated by JC Flowers. According to a report in Mint, YES Bank will also pick up a 20 per cent stake in the ARC. 

JC Flowers ARC had earlier won a Swiss auction to get YES Bank's NPAs for Rs 11,183 crore. It is expected to pay Rs 1,677 crore to the bank in the next 60 days, the Mint report added.

"This would mean that the deal will